The storyline does an excellent job
at telling the history of the life of a star. Viewers learn how
one man with impaired vision was able to move from
obscurity to become a world-renowned musician and entertainer.
In a scene from the movie, Ray can be found negotiating his way into a record
deal with ABC Record Company. Having to announce the end of his deal with his
former company, Atlanta Records was difficult. What helped soften the blow of
delivering bad news was the celebratory deal Ray was able to report. At that
time, no other artist had negotiated a deal of that capacity. This scene
remains iconic for one who is learning to conduct business in the entertainment
industry.
With
a plan to assist others in helping their vision go viral, this post will
explore proven strategies that are effective towards that end. As my career
transitions from employment counseling into artist management, there exist a
natural tendency to identify patterns that carryover from one sector into the
other. Research shows there are many common factors in creating strong
negotiations. The following videos will
focus on three main tips that can be helpful for navigating through a
principled negotiation.
1) separating
the people from the problem
2) using objective criteria
3) preparing a BATNA
In
this first video, the speakers reveal tips that benefit when in a job
interview. When the question of salary comes up, coach Peggy McKee suggestions
approaching it carefully. Her main reason for this advice is supported
by her belief that who ever suggest an amount
of money first is likely to be the amount you receive, and can
circumvent a chance to get a better deal. This Med Sales recruiter says “There
is some correlation between the first person who says the number and the actual
number they arrive at.” This means it is highly significant to prepare your
strategy on how to handle conversations on salary during a job interview. What
is not wise, is to say one number and find oneself in regret by the end of the day.
1. http://www.youtube.com/watch?v=GNjFSnvr8qI&feature=player_embedded
To
avoid this problem McKee offers advice that is extremely similar to that of
Fisher and Urys’ book, Getting to Yes. One solution is to separate
the people from the problem. To do this, McGee leaves the following three tips
as advice.
A) never bring it up
B) deflect the questions and ask them are they
offering you a job now? Or say
C) I am certain that given the responsibilities
and how important it is to you that you will be committed to financially
compensate the person that you select
Her
advice is not merely avoiding the topic, but is simply dealing with the people
problem first. After determining if you have the job that would be a more
beneficial time to discuss salary. Fisher and Ury frame this strategy as
“Disentangle the relationship from the substance: deal directly with the people
problem” [page 23]
In
the next video we find clear evidence of another strategy to improve the
outcome of obtaining a mutual agreement. This speaker Katie Roney agrees that
talking about money is important. Her advice is that you may be able to
negotiate a greater salary than what was offered. She suggests, this is best
done by using what Fisher and Ury refer to this as objective criteria.
Roney
says having an armful of information is beneficial to determine the other
parties underlying interest. Through research and study of the market you can
find ways to match your skills with the companies needs. Defining how your
brand separates you in a way that is unique can be helpful. This may work
improve your ability to assist a company towards
achieving an unspoken goal.
Plan
to justify the request for your salary by relying on that information gathered
as the merit for your case. It is not enough to just say I am better. The
question becomes, better than what? There should be a specific and relevant
point of comparison, when negotiation for additional compensation from the
previous offer. Roney suggest preparation is the key to success in negotiation
salary. The objective criteria available to you can be found regarding what
others in your range are currently making. Understand more about the
requirements for the position
Up
sales of your self is okay. One helpful way to do that is to approach the
subject with honesty and a plan. When you look over the details of the job and
familiarize yourself requirements, you may discover that you have more to
offer.
This
final video takes a look at the use of a phrase coined by Fisher and Ury called
BATNA Fisher and Ury teach “protecting your self against a bad agreement is one
thing”[Page 104]. The speaker in the video share powerful tips that result from
knowing your Best Alternative To A Negotiated Agreement, or BATNA. This is
important because it is not just suggesting research, but also to prepare
alternatives.
http://www.youtube.com/watch?v=428BG2q6xtU
To
help define what can be expected from each party in a negotiation, this
speaker, carefully explains the role of each party, referring to one as buyer
and the other as seller. While the roles of the party may be used to describe a
principled negotiation of a financial planner, the tips remain relevant for
promoting an artist in the entertainment industry, as well.
This
video demonstrates the power of preparing a BATNA. The speaker says“ the
stronger your BATNA position the better your results of your negotiation”. One
take away from this resource is not to wing it. Negotiations that are handled
in that manner can only lead t confusion anxiety and indecision. The more
options you have the more like you are to relax
What
is more helpful than to wing it is to work toward improving your BATNA.
Having a BATNA
can be helpful promote the following outcomes.
· The more options you have the greater
your performance
· The more options you have the more
confidence you have
· The more options you have the more
protected you are against accepting an agreement that is not in your best
interest
REFERENCES
Book
Fisher, Ury, R. &. W. (2011). The method. In Getting to
yes (3rd ed.). doi:www.penguin.com
IMBD. (2004). Ray.
Retrieved from http://www.imdb.com/title/tt0350258/
http://www.imdb.com/title/tt0350258/
McKee, P. (2008,
June 3). Discussing money (salary negotiations) in the job interview - get
hired to. Retrieved from http://www.youtube.com/watch?v=GNjFSnvr8qI&feature=player_embedded
Roney, K. (2007,
December 27). How to interview for a job : How to talk salary in a job
interview . Retrieved from
http://www.youtube.com/watch?v=X9QfOzBAp6s&feature=player_embedded
planner lounge.
(20110, august 23). Selling your financial planning practice negotiation -
aspirations and batna . Retrieved from
http://www.youtube.com/watch?v=428BG2q6xtU
http://www.youtube.com/watch?v=428BG2q6xtU
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